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GBP/USD 🇬🇧🇺🇸 to bounce from the 0.236 level!Another pair with the British Pound certainly move in a similar fashion , however here the price lies just slightly above the strong 0.286 fib level and the crossover of the 50&100 ma suggest that the bounce for GBP/USD 🇬🇧🇺🇸 is likely to occure once the price hit the 0.236 fib level with together with the trend line. If you like the idea PLEASE don't forget to hit the LIKE 👍👍👍button Also share your thoughts and charts here in the comment ⌨️ section!
Long
by Alexander_Harford
4
Brexit storms back onto centre stageBy Andria Pichidi - July 23, 2019 Brexit will leap back to centre stage now that the new UK Prime Minister, Boris Johnson, has been selected. Already Moody’s and Goldman Sachs’ analysts, among others, have warned of an increased likelihood for the UK leaving the world’s biggest free trade area without an agreement on divorcing terms or an outline of new trading terms. POUND The crowning of Boris Johnson as the new leader of the UK Conservative Party, with Johnson ready to be confirmed as Prime Minister today, is keeping Sterling under pressure, especially with BoE MPC member Saunders describing UK growth as “weak and below trend” in an interview with Bloomberg. Meanwhile, investors are raising their no-deal Brexit bets, which is also fuelling easing expectations. The Pound has remained under pressure, with Cable holding below 1.2500. A report by UK think-tank NIESR, meanwhile, that Brexit-related uncertainty may have already tipped the UK economy into recession has also been in the mix of sentiment fodder over the last day. Despite the correction from 1.2417 lows, the Pound remains in July below 20-day SMA, and below 50- and 200-day SMA since May. Hence, short term or medium term rallies considered as temporary before the reinforcement of another leg lower. Momentum indicators are extending lower, something that increases the potential of a retest of the recent low at 1.2380. Initial Resistance at $1.2480 and for the day at yesterday’s high at 1.2520. Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
Short
by HotForex
GBPUSD now trading above key moving averageThe British pound is gaining bullish momentum against the US dollar on Wednesday, following a sustained break above the 1.2700 resistance level. The GBPUSD pair is also trading above its key one-hundred period moving average on the four-hour time frame, which has provided strong technical resistance since November. The former weekly trading high, at 1.2738, remains the next upside hurdle for intraday buyers. The GBPUSD pair is strongly bullish while trading above the 1.2700 level, buyers may now test towards the 1.2738 and 1.2770 levels. If the GBPUSD pair trades below the 1.2700 level, sellers may test the 1.2680 and 1.2666 support levels.
by OctaFX_Official